Lying on the Horn of Africa. Ethiopia, officially the Federal Democratic Republic of Ethiopia, became the first independent African member of the League of Nations and the United Nations. It is the 12th most populous country in the world and the second-most populous country in Africa.
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Economic Conditions of Ethiopia
Ethiopia emerged as one of the world’s fastest-growing economies. In 2014, the country had a GDP (gross domestic product) of $54.8 billion, of which exports amounting to an estimate of $ 4.14 billion and imports amounting to an estimate of $12.08 billion. Moreover, economists estimate that the country’s economic record averaged 10.7% growth over the last decade.
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The Ethiopian Government invested a great amount in establishing critical infrastructure that led to faster growth. Today, the developments attract severe foreign investors to the country.
Although the country has 70% of the population employed under agriculture, less than 15% of the Ethiopian land is arable, subjected to shifting weather patterns, over-grazing, and soil erosion. However, there are limitations when it comes to managing drought and famine.
Marketing Opportunities in Ethiopia
Are you interested in starting a business in Ethiopia? In terms of business opportunities in Ethiopia, Mr. Ajjay Kumar Gupta founder of Entrepreneur India claimed, “Despite the strong growth, challenges remain. The current Government embarked on a program of economic reform including privatization of state enterprises and rationalization of government regulation. While the process continues, the reforms attract much-needed foreign investment. Almost 50% of the population is under the age of 18 years. Even though education enrollment at primary and tertiary level increased significantly, job creation has not caught up with the increased output from educational institutes.”
The most demanding and promising sectors of the business investments as demarcated by Entrepreneur India are listed below:
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Agriculture
Most of the country's economy lies in its agriculture, accounting for 46.3% of gross domestic product, 60% of exports, and 80% of total employment. Yet agriculture of the country has the maximum resource.
The land has abundant agricultural resources with diverse ecological zones for agricultural production. One can easily obtain investment licenses from the Ethiopian Investment Commission and lease up to 99 years from regional and city administration bureaus.
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Energy
Energy forms one of the most important sectors for the country’s economic growth and development. Mr. Ajjay Kumar Gupta claims, “We are expecting the power generation for a significant increase in the medium run.” Ethiopia possesses significant renewable potential (accounts for over 90% of the country’s energy production), especially hydroelectric, and seeks to exploit the resources by increasing the installed capacity of renewable energy sources.
Apart from these sectors, some more sectors play a great role in shaping the economy of Ethiopia. These include forestry, fishing, minerals, and mining (including coal, opal, gemstone, iron ore, soda ash, and tantalum) with significant mining of gold.
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How can Entrepreneur India help?
Mr. Ajjay Kumar Gupta further stated, “Entrepreneur India is a one-stop solution for all business and project opportunities. As per the resources available in Ethiopia, the firm opened wide doors for various sectors and industries. These include agricultural production, mining, food processing, hospitality, construction, pharmaceuticals, manufacturing of leather goods, textile and plastic products.”
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The founder of Entrepreneur India, added “Our website provides entrepreneurial solutions to an individual who is looking to invest in Ethiopia. Entrepreneur India serves as the backbone to your business ideas. So, you might be having a question in your mind, as to how to begin. Well, our website offers you a wide range of A-Z services. Starting from funding opportunities, tech know-how, Viability study, business plan, new project identification, project feasibility, identification of profitable industrial project opportunities, thorough analysis of the project, plan all resources & details on capital and operational costs, economic feasibility study of the project, profile analysis, preparation of project profiles / pre-investment studies, market surveys/studies, preparation of techno-economic feasibility reports, funding analysis, market potential study, identification and section of plant /process/equipment, general guidance, technical and commercial counseling we stand by you through your thick and thin days. We understand that starting a business is not a one-day thing, and thus we aim to provide you handholding and support for an extended period”.
To know more about the business opportunities in Africa or Ethiopia, visit Entreprenuer India. This website is your one stop solution for all the entrepreneurial and investment scope in Ethiopia and other African countries. Stay tuned for more updates.
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About Us- Entrepreneur India
The firm Entrepreneur India emerged as the biggest platform for various business opportunities, intending to make Ethiopia an entrepreneurial hub. Entrepreneur India emerged as an initiative for teaching the significance of entrepreneurship. We strive to offer entrepreneurs a worldwide platform. We host a few occasions right from extensive seminars to all-day conferences and from sensible recommendations to thought-upsetting dialogues.
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Furthermore, we strive to offer an in-depth evaluation of marketplace trends, income techniques, and inventory prices of different commercial sectors. In 2015, we launched in India via Entrepreneur India Media for Indian readers interested in commercial enterprise. Entrepreneur India emerged as one of the most coveted commercial enterprise magazines that cover the views and memories of all the prominent organizations.
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